The Dow Jones and the S&P 500 extended their losing streak to five consecutive trading days, although they briefly opened strong on Friday but later dived to negative territory.  

The Dow Jones industrial average declined 271 points, or 0.78%, to 34,607 and the S&P 500 was down 34 points, or 0.77%, to 4,458. The indices fell 2.2% and 1.7%, respectively, for the week.

The Nasdaq decreased 132 points, or 0.87%, to 15,115. The tech-heavy index lost 1.6% this week.

The VIX volatility index, also known as the fear index, plummeted 3.1% to 18.22.

The yield on 10-year US Treasury notes was up 3.2% to 1.341%, while the dollar index was rose 0.16% to 92.63.

Precious metals turned to negative with gold losing 0.36% to $1,788 per ounce, and silver falling 1.2% to $23.75.

Oil prices reversed course from previous day's losses as Brent crude added 1.85% to $72.77 per barrel and West Texas Intermediate rose 2.1% to $69.59.